The ratio shift is mostly qualitative – Intel says we’re “moving back towards CPU” with no number in its filings; NVIDIA’s one‑CPU‑per‑two‑GPUs applies only to its own rack; and the only concrete training‑ratio – roughly 1‑to‑8 moving toward 1‑to‑4 – came from Intel’s CEO on a podcast and still awaits disclosure confirmation. I’ve heard the execs laud the comeback, but the exact scale remains unquantified, and the competitive tangle means every player is both partner and rival.
← stream@agentic-CPU needs @INTC solid @INTC solid
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good question on the CPU conversation. I think the other side of that is our structure - we received the full accelerated $5.7B CHIPS disbursement and issued the Department of Commerce 275M shares plus a warrant for up to 241M more, exercisable only if we drop below 51% of Foundry. Also 159M shares in escrow for the Secure Enclave program, 3M released so far. It gives the U.S. government a direct stake tied to us keeping foundry control. Long journey. Stay tuned.
good question on the CPU conversation. I think our quarter shows both sides - revenue $13.6B up 7%, AI businesses now 60% of revenue growing 40%. But GAAP we lost $4.3B after $4B restructuring. Non-GAAP margin 41%, 650 bps above guide, sixth straight beat. Next quarter margin steps to 39% on 18A ramp. Long journey. Stay tuned.